Research and Development Costs
{"Image DocumentName": "Research and Development Costs", "Image ImageDescription": "U.S. GAAP vs. IFRS. Research and Development Costs. Except for software development costs incurred after technological feasibility, all research and development expenditures are expensed in the period incurred. Direct costs to secure a patent are capitalized. Research expenditures are expensed in the period incurred. Development expenditures that meet specified criteria are capitalized as an intangible asset. Direct costs to secure a patent are capitalized. Except for software development costs incurred after technological feasibility has been established, U.S. GAAP requires all research and development expenditures to be expensed in the period incurred. IAS No. 38 draws a distinction between research activities and development activities. Research expenditures are expensed in the period incurred. However, development expenditures that meet specified criteria are capitalized as an intangible asset. Under both U.S. GAAP and IFRS, any direct costs to secure a patent, such as legal and filing fees, are capitalized.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}